Saudi Aramco eyes new petrochemical plant in Texas: sources

– Saudi Arabia’s national oil company Saudi Aramco on Saturday is expected to disclose initial steps toward a multibillion-dollar chemical plant in Texas, according to sources familiar with the company’s U.S. operations. Saudi Aramco has been weighing an expansion of its U.S. subsidiary Motiva Enterprises LLC’s Port Arthur, Texas refinery, already the largest in the United States by capacity. But Motiva wants to first move into petrochemicals, using abundant natural gas from U.S. shale fields to make the precursors for plastics, the sources said. Texas Governor Greg Abbott is expected to attend an event in Houston on Saturday where Saudi Crown Prince Mohammed bin Salman, Saudi Energy Minister Khalid al-Falih and Saudi Aramco Chief Executive […]